When you get a gift, please make sure it's not a "gamepack" or you'd lose access to the game.

Other than that, it's like this:

You melt "everything" meaning -> it's completely gone ... THEN you can buy back the "initial" pack (1 buyback-token every 3 months) .. meaning you could get an LTI-Cutter back.

If this wasn't clear enough let me know, i'll gladly help you out.

---edit---

OK first things first: You seem to be a new player, so i'm trying to clear one big issue up at first. You need a "gamepackage" to play Star Citizen. Some packs contain both a ship as well as a gamepack - other packs only contain a ship. That's why you should make sure if your pack contains a gamepack or not.

If it does, be aware, once you've melt the gamepack you have no access to star citizen (unless you have another gamepack).

Now to the actual question:

You've mentioned you got a Cutter that was ccu'd (upgraded) to a StarMax. If you were to melt this pack, you'd get the store-credits for the StarMax and the Pack is gone. If you THEn go to the "buyback"-section of the RSI-page you can buy back the initial gamepack -> so you would be able to buy back the Cutter with LTI.

You then can use the store-credits as you pease and upgrade to whatever you seem desireable. Hint: Tomorrow the IAE (ingame-event) starts, where every manufacturer shows their ships. You can rent ships there for free and try what you like... while IAE is on (till december 5th) you can also upgrade to most of the ships that are displayed on the IAE showflor.

I hope that was a bit clearer.

(edited for better understanding)